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Lucid. Options On $6.00 Dollar Stock With Two Days To Go Are Difficult To Trade

What do you think about this chart? It's one of those falling of a cliff charts. It's a Thursday morning and it looks like this stock is kind of in a downdraft. Look at my most recent blog on Rivian. The bad news on Lucid could be a hangover effect caused by Rivan's one day prior bad news story. It was talk about Rivian going back to the markets to raise more money even though they were starting to lose less of it. It was a good-news, bad- news story. A story which would take a few days for the markets to digest. Let's now look at two series of Lucid's Calls which expire tomorrow. We now find ourselves forty one minutes into the market's opening trading action. The 26 series of "out-of-the-money" Calls that expire tomorrow are trading last at $.03 cents. ... Now this. Now look a this small rebound twenty five minutes later. .. Here is where it gets a touch confusing. The $5.50 Calls which were once at $.22 cents are now $.30 and the $6.00 series of...
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One Of The First Of Many Quarterly Earning Reports

Is this one of sethe first of more of the same kind of reports to come?
Sales down 4.1% is not really all that bad a number but is it a precursor of more of the same to come? A ten dollar hit on the stock shows you the anxiety in the air with the possibilties of any sort of a rebound on the day next to nil. Carvanna is reporting more insider selling. It's sitting at lofty prices. They have a reputation for stock price manipulation and to have more news of insider selling coming out at this particular time of uncertainity is not a good thing. Here is how these two stocks opened on the day. First Carmax, it's down $12.00
Now Carvanna. It's down $13.00.
Here is how two other major players in the same space also got hit.
Bad news travels quickly.
Welcome to the world of third quarter earning reports. In some ways these results were inevitable. *** Here is how these stocks mentioned closed the day.
Here is how Carmax ended up closing. Trying to play it for tomorrow would be imposible.
One final note on Carvanna which tends to trade in a strange way. Here are it's one day and five day charts.
Trying to play them would be next to impossible. It put on a brave face. If a second wave of panic selling comes into the markets tomorrow these Puts which only have one days life in them might pay off but once again, the risk level in these Puts is way up there.
(Here is how Carvanna ended up closing on Friday). It was down only a touch.
** I can't really spend the time to recap how all of these options ended up closing the week. I do however want to mention Carmax, the company I first started watching. Look at how it's five day chart ended up looking like.
What do you think? Here is a look Carmax's next series of Call options. Carmax staggers their Call and Put options in one month intervals. Maybe it's report is not all bad afterall.
These options offer one month of trading time! What do you think about them? Option players watching these "American used car market stocks" a real niche players.

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